CAC 40 Slides On Risk Aversion

French stocks were moving lower on Tuesday as investors turned risk averse amid concerns around debt-laden Chinese developer Evergrande and rising raw material prices.

The benchmark CAC 40 dipped 52 points, or 0.8 percent, to 6,518 after closing 0.2 percent higher the previous day.

Air Liquide shares were down 0.7 percent and Faurecia fell 1.4 percent after the companies said they have signed a joint development agreement to design and produce on-board liquid hydrogen storage systems for the automotive industry.

Alstom SA was little changed after it won a contract worth about 230 million euros for the Line 18 of the "Grand Paris Express" network.

Societe Generale SA dropped half a percent. The bank said that it will cut 3,700 jobs between 2023 and 2025, as part of a plan announced last year to merge its domestic retail operations.

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